Kennebunk Free Library Association

Analysis

Kennebunk Free Library Association is a registered charity in United States, based in Kennebunk, ME. It received its IRS tax-exemption ruling in October 1944, 82 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Kennebunk Free Library Association reported income of $925k and spending of $1.1m, spending 118% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $844k to $925k (+9.5%), an average of +3.1% a year. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Kennebunk Free Library Association sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 75th percentile within ME. Charities of a similar size with the same main cause include Beyond Abuse ($925k), Deaconess-Zane Center ($925k) and Shakespeare Festival of Dallas ($925k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 91% and program service revenue 0.6% of the total. Compensation of current officers, directors and key employees was $79k (7.3% of expenses). Other salaries and wages came to $560k. At year end it held assets of $2.3m against liabilities of $68k, net assets of $2.2m. It reported 25 employees.